In an oligopoly market, the Herfindahl-Hirschman Index is usually
A) greater than 2,500.
B) below 1,000.
C) between 100 and 1,000.
D) between 200 and 2,000.
A
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The natural rate of unemployment is always more than the actual rate of unemployment because it excludes frictional and seasonal unemployment rates
a. True b. False Indicate whether the statement is true or false
When there are more substitutes for a product, the ________ for the product is ________.
A. income elasticity; greater B. demand; less price elastic C. income elasticity; smaller D. demand; more price elastic
Which of the following is NOT a source of bias in the CPI? i. quality change bias ii. new goods bias iii. quantity change bias
A) i only B) ii only C) iii only D) i and ii E) ii and iii
An expansionary gap is equal to: a. real GDP minus nominal GDP
b. nominal GDP minus real GDP. c. the actual short-run output minus potential output. d. the actual price level minus expected price level. e. the actual long-run real GDP minus actual short-run disposable income.